Aurich Lawson / Zynga
In Zynga's July 2011 prospectus to future shareholders, company founder and CEO Mark Pincus outlined his firm's ambitious plan to take over the gaming world.
"My kids decided a few months ago that peek-a-boo was their favorite game," he wrote. "While it's unlikely that we can improve upon this classic, I look forward to playing Zynga games with them very soon. When they enter high school, there's no doubt that they'll search on Google, they'll share with their friends on Facebook, and they'll probably do a lot of shopping on Amazon. And I'm planning for Zynga to be there when they want to play."
Will it? At the time, Pincus had ample reason for confidence. Zynga was riding high after several years of success. Since its July 2007 founding, Zynga raked in hundreds of millions of dollars in venture capital, launched massive hits like FarmVille, Mafia Wars, and CityVille, and turned a 2010 profit of $90.5 million. It was also on an acquisition binge, picking up 11 companies in as many months between 2010 and 2011.
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